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Litecoin Price Prediction: LTC/USD Faces $250 Resistance as Bulls Hold Around $235 Zone

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LTC Price Prediction – April 10

The Litecoin price escalates but a break above $240 is expected to pull the coin towards $250 in the coming trading sessions.

LTC/USD Market

Key Levels:

Resistance levels: $250, $260, $270

Support levels: $200, $190, $180

LTCUSD – Daily Chart

LTC/USD is seen trading around the resistance level of $230 after touching the daily high of $235.37 in the early hours of today. This is a move that could easily pave the way for gains above $240 and towards $250. Therefore, if the technical indicator RSI (14) keeps moving above the 60-level, the market may show that the bullish grip is getting stronger.

Where is LTC Price Going Next?

The Litecoin (LTC) is currently holding the ground at above the 9-day and 21-day moving averages after a major recovery from $219.02. This shows that buyers still have the upper hand in the price movement and they could easily push the coin towards the potential resistance of $250, $260, and $270. In the other words, if the buying action fails to break above $240, then LTC/USD could instead settle for consolidation.

However, any breakout above the upper boundary of the channel is still having an impact on the price. Furthermore, it is about time that buyers increase their confidence in the recovery because $240 is still achievable. Therefore, if the bears push the coin below the moving averages, the support levels of $200, $190, and $180 may be touched.

Against Bitcoin, LTC remains above the 9-day and 21-day moving averages in other to retest the resistance level of 4000 SAT. Unless this resistance is effectively exceeded and the price eventually closes above it, there might not be any reason to expect the long-term bullish reversal.

LTCBTC – Daily Chart

Moreover, trading below the moving averages could recall the lows and a possible bearish continuation may likely meet the major support at 3500 SAT before falling to 3400 SAT and below while the buyers may need to push the market to the potential resistances at 4200 SAT and above as the technical indicator RSI (14) is likely to cross above 60-level to give more bullish signals.

Litecoin Price Prediction: LTC/USD Faces $250 Resistance as Bulls Hold Around $235 Zone

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Price analysis 4/9: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, THETA

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Hong Kong tech company Meitu revealed on April 8 that it had added $10 million worth of Bitcoin (BTC) to its holdings which were purchased at an average rate of $57,000 per coin. After the latest purchase, Meitu’s total cryptocurrency portfolio consists of $49.5 million worth of Bitcoin and $50.5 million worth of Ether (ETH). This acquisition shows that institutional investors are confident that the rally in Bitcoin is still in its early stages.

Tom Jessop, Fidelity’s head of the crypto division, believes that Bitcoin has reached a tipping point and that traditional finance companies will continue to adopt cryptocurrency aggressively in the next few years. Jessop believes the massive monetary stimulus from governments and central banks has accelerated institutional adoption and this is a trend that could extend for at least another year.

Daily cryptocurrency market performance. Source: Coin360

It is not only institutional investors who are rushing into cryptocurrencies. Data shows that the number of retail investors trading cryptocurrency has also increased. Popular trading app Robinhood reported on April 8 that crypto trading on its platform surged to 9.5 million users in Q1 2021, a six-fold increase over Q4 2020.

While crypto adoption is on the rise, some legacy finance firms are still taking an anti-crypto approach. HSBC has reportedly blacklisted MicroStrategy stock and will not allow customers on its HSBC InvestDirect platform to buy shares from the company.

Will Bitcoin and major altcoins extend their uptrend and attract more buyers or will they enter a corrective phase? Let’s analyze the charts of the top-10 cryptocurrencies to find out.

BTC/USDT

The bears could not capitalize on Bitcoin’s break below the 20-day exponential moving average ($57,043) on April 7. Their failure to break the 50-day simple moving average ($54,572) support could have attracted buying from the aggressive bulls, resulting in the rebound on April 8.

BTC/USDT daily chart. Source: TradingView

However, today’s Doji candlestick suggests the bulls are struggling to sustain the momentum at higher levels.

The BTC/USDT pair has formed an inverse head and shoulders pattern that will complete on a breakout and close above $60,000. This bullish setup has a target objective at $69,540. If the bulls sustain the momentum and clear this hurdle, the uptrend may reach the next target at $79,566.

Contrary to this assumption, if the price turns down from the current level, the bears will once again try to break the critical support at the 50-day SMA. If they succeed, the selling could intensify as short-term traders may rush to the exit. That could pull the pair down to $50,460.02 and then $43,006.77.

ETH/USDT

Ether’s (ETH) drop on April 7 was arrested at the 20-day EMA ($1,933), which shows the bulls are accumulating on dips. The price rebounded sharply on April 8 and rose above the resistance at $2,040.77.

ETH/USDT daily chart. Source: TradingView

The bulls will now make one more attempt to climb above the all-time high at $2,150. If they manage to do that, the ETH/USDT pair could resume its uptrend and march toward the next target objective at $2,618.14.

However, the bears are likely to have other plans. They will try to pull the price below the 20-day EMA. If that happens, several aggressive bulls may get trapped. That could intensify the selling, resulting in a drop to the trendline. A break below this support will suggest a change in trend.

BNB/USDT

Binance Coin (BNB) continues to be in a strong uptrend. The bulls flipped the $348.69 level to support on April 7 and followed that up with a breakout to a new all-time high on April 8. This shows a strong appetite from the bulls.

BNB/USDT daily chart. Source: TradingView

The upsloping moving averages and the relative strength index (RSI) above 75 indicate that the bulls are in command. The next target objective on the upside is the $500 to $530 zone where the bears may mount a stiff resistance.

On any correction, the first support to watch out for is the 20-day EMA ($334). A strong rebound off this support will suggest the sentiment remains bullish and traders are buying on dips.

However, if the BNB/USDT pair dips below the 20-day EMA, it will suggest that the bullish momentum is weakening.

XRP/USDT

XRP made successive inside day candlestick formations on April 7 and April 8. The current price action is pointing to another inside-day candlestick pattern today. The drop in daily volatility shows the altcoin is still digesting the recent gains.

XRP/USDT daily chart. Source: TradingView

This tightening of the intraday range usually ends with a strong breakout. If the uncertainty resolves to the upside and the bulls drive the price above $1.11, the XRP/USDT pair could start the next leg of the rally that could take it to $1.34 and then $1.66.

Alternatively, if the indecision resolves to the downside, it will suggest that supply exceeds demand and traders have dumped their positions. If that happens, the pair could drop to the 20-day EMA ($0.72). A break below this level could pull the price down to $0.65.

ADA/USDT

Cardano (ADA) dipped below the 20-day EMA ($1.18) on April 7 but the bulls did not allow the price to slip below the 50-day SMA ($1.16). This shows the bulls are defending the moving averages aggressively.

ADA/USDT daily chart. Source: TradingView

The buyers will now try to push the price above $1.33. If they manage to do that, the ADA/USDT pair could rise to $1.48. This is an important level to watch out for because the pair has returned from it on two previous occasions.

If the price again reverses direction from $1.48, it will suggest that the range-bound action may continue for a few more days. On the other hand, if the bulls can drive the price above $1.48, the pair could resume the uptrend toward the next target objective at $2.

A break below the moving averages will be the first sign of weakness and that could result in a drop to the $1.02 support. If this level breaks down, the bears could start a deeper correction to $0.80.

DOT/USDT

Polkadot (DOT) bounced off the 20-day EMA ($38.68) on April 7, indicating buying on dips. The bulls will now try to push the price above the overhead resistance at $42.28.

DOT/USDT daily chart. Source: TradingView

If they succeed, the DOT/USDT pair will retest the all-time high at $46.80. A breakout and close above this level could start the next leg of the rally that has a target objective at $53.50 and then $57.

The gradually upsloping 20-day EMA and the RSI in the positive territory suggest the bulls have the upper hand.

However, if the price turns down from the current level and breaks below the moving averages, it will indicate that traders are closing their positions on rallies. That could result in a fall to $32.50 and then $26.50.

UNI/USDT

The bulls successfully held the $27.97 support on April 7, which is a positive sign as it shows accumulation on dips. Uniswap (UNI) bounced back above the 20-day EMA ($29.65) on April 8 and the buyers will now try to push the price above $32.50.

UNI/USDT daily chart. Source: TradingView

If they succeed, the UNI/USDT pair could rally to the $35.20 to $36.80 overhead resistance zone. The bears are likely to defend this zone aggressively. If the price turns down from this resistance, the pair may extend its stay inside the range for a few more days.

Contrary to this assumption, if the price turns down from the current level, the bears will make one more attempt to pull the price below the $27.97 to $25.50 support zone. If they manage to do that, the pair could start a deeper correction to $20.74.

LTC/USDT

Litecoin (LTC) successfully completed the retest of the breakout level from the symmetrical triangle on April 7. That was followed by a rebound on April 8, but the bulls are struggling to pick up momentum.

LTC/USDT daily chart. Source: TradingView

This shows hesitation to buy at higher levels. If the bulls do not overcome the hurdle at $246.96 within the next few days, the possibility of a break below the 20-day EMA ($207) increases. In such a case, the LTC/USDT pair could drop to the support line.

Contrary to this assumption, if the bulls sustain the momentum and propel the price above $246.96, the pair could start the next leg of the uptrend that may reach $307.42. The gradually rising 20-day EMA and the RSI above 59 suggest a minor advantage to the bulls.

LINK/USDT

Chainlink’s (LINK) sharp reversal on April 7 could not break below the 20-day EMA ($30.29). This shows the sentiment remains positive and the bulls are buying on dips. The rebound on April 8 rose above the $32 resistance but the bulls are struggling to build on this strength today.

LINK/USDT daily chart. Source: TradingView

If the price turns down and breaks below the moving averages, it will suggest that supply exceeds demand at higher levels. That could pull the price down to the critical support at $24.

On the other hand, if the bulls again defend the 20-day EMA, the LINK/USDT pair could rise to the all-time high at $36.93. A breakout and close above this resistance will suggest the bulls have absorbed the supply and that may indicate the start of the next leg of the uptrend.

However, if the price again turns down from $36.93, the pair could extend its stay inside the range for a few more days.

THETA/USDT

After the large range day on April 7, THETA made an inside day candlestick pattern on April 8 and has followed it up with another one today. This shows indecision among the bulls and the bears about the next directional move. While the bears are defending the overhead resistance, the bulls are buying on every minor dip.

THETA/USDT daily chart. Source: TradingView

The upsloping 20-day EMA ($11.33) and the RSI above 62 suggest a minor advantage to the bulls. The buyers will have to clear the hurdle at $14 to signal the start of the next leg of the uptrend. If they manage to do that, the THETA/USDT pair could rally to $17.65 and then $22.50.

On the contrary, if the bears sink the price below the 20-day EMA, it will be the first sign of a possible change in sentiment. It will suggest that the bulls are no longer buying the dips to the 20-day EMA. The next critical support to watch will be $10.35. If this level is taken out, a deeper correction to the 50-day SMA may start.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

Market data is provided by HitBTC exchange.

Price analysis 4/9: BTC, ETH, BNB, XRP, ADA, DOT, UNI, LTC, LINK, THETA

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Litecoin Price Prediction: LTC/USD Settles Above $235; Price Shoots by 6.29% Within 24 Hours

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LTC Price Prediction – April 6

LTC/USD receives a pat at the back with a gain of 6.29% in the last 24 hours.

LTC/USD Market

Key Levels:

Resistance levels: $250, $260, $270

Support levels: $200, $190, $180

LTCUSD – Daily Chart

LTC/USD moves to test the support of $213 after the market opens in the early hours of today.  The Litecoin (LTC) is seen trying to cross above the upper boundary of the channel. Moreover, at the time of writing, the coin is posting gains of over 6.29% in the last 24 hours at a price of $235.36 while the signal line of RSI (14) focuses on the positive side.

What to Expect from Litecoin

According to the daily chart, the market is currently displaying a sign of subduing volatility with price ready to cross above the channel. However, taking a look at the daily chart, we can see that the trading volume is rising. Nevertheless, if the LTC/USD pair decides to stay under the control of the bulls, the price may roll to the nearest resistance at $250, $260, and $270 levels.

On the downside, the 9-day moving average is seen crossing above the 21-day moving average and any bearish movement below the moving averages may bring the market price to the support levels of $200, $190, and $180 respectively.

Against Bitcoin, the Litecoin price is now seen following the uptrend within the descending channel, especially since a few days ago. The coin is making an attempt to cross above the upper boundary of the channel and continued to rise through subsequent resistance level to 4100 SAT. The potential resistance level is located at the 4300 SAT and below.

LTCBTC – Daly Chart

However, if the bears manage to re-enter the market, traders may likely find the critical support level at 3400 SAT and below. Meanwhile, the Litecoin (LTC) is currently changing hands at 4031 SAT but another surge in volatility may occur as the RSI (14) moves into the overbought conditions suggesting more bullish signals in the nearest term.

Litecoin Price Prediction: LTC/USD Settles Above $235; Price Shoots by 6.29% Within 24 Hours

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Litecoin Price Prediction: LTC/USD Takes Price Above $215 Level With 1.18% Gain

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LTC Price Prediction – April 3

The price of Litecoin is currently changing hands at $214 as the coin prepares to move higher.

LTC/USD Market

Key Levels:

Resistance levels: $235, $245, $255

Support levels: $190, $180, $170

LTCUSD – Daily Chart

LTC/USD is now moving above the 9-day and 21-day moving averages where the coin is making an attempt to cross above the upper boundary channel. A climb above the previous resistance level at $220 could allow the bulls to maintain and move the price to the higher highs. Meanwhile, the current price setups reveal that bears may come to play if the 9-day MA refused to cross above the 21-day MA.

What to Expect from Litecoin

As stated above, LTC/USD is maintaining the uptrend as the coin moves toward the resistance of $220. An increase above this initial resistance could trigger intense buying to $235, $245, and $255 resistance levels. Looking at the downside, the Litecoin price may likely hold a support level at $209 which is the current daily low.

Meanwhile, the next support after this is located at $190 where it may even dip to $180 and $170 supports if the selling volume comes to play. Nevertheless, the technical indicator RSI (14) reveals that the market may continue to follow the bullish movement if the signal line crosses above the 70-level.

When compares with Bitcoin, Litecoin price is making an attempt to cross the upper boundary of the channel in other to reach the resistance at 3800 SAT. Unless this resistance is effectively exceeded and the price ends up closing above it, there might not be any reason to expect the long-term bullish reversal.

LTCBTC – Daily Chart

However, trading below the moving averages could refresh lows under 3400 SAT and a possible bearish continuation may likely meet the major support at 3300 SAT and below while the buyers may push the coin to the potential resistance at 3900 SAT and above. More so, the technical indicator RSI (14) moves toward the 60-level to give more bullish signals.

Litecoin Price Prediction: LTC/USD Takes Price Above $215 Level With 1.18% Gain

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Litecoin Price Prediction: LTC/USD Rise Steadily, Price Spikes above $200 Resistance

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LTC Price Prediction – April 4

The Litecoin price may likely settle above the 9-day and 21-day moving averages as the RSI (14) moves toward 60-level.

LTC/USD Market

Key Levels:

Resistance levels: $225, $235, $245

Support levels: $175, $165, $155

LTCUSD – Daily Chart

LTC/USD is currently trading above the 9-day and 21-day moving averages within the channel. However, the cryptocurrency has been following an uptrend for the past few days, and should the buyers keep it above the moving averages, the coin might remain at the upside. Today, an early trading session touches the $204.89 level before rebounding to where it is trading currently at $204.29.

What is the Next Direction for Litecoin?

The Litecoin price remains firm above the moving averages and if the resistance of $205 gives way, the bull-run may come to focus. At the moment, the bullish scenario seems more dominant as buyers continue to post firm commitments into the market. For the past few days, we could see a sharp rise in the market price. Moreover, if the coin stays above the $200 resistance level, this could further strengthen the market to $225, $235, and $240 resistance levels.

On the downside, a lower possible swing may likely retest the previous support below the moving averages. However, if the bears manage to fuel the market, traders may expect a further drop to $175, $165, and $155 support levels. On the other hand, the technical indicator RSI (14) is now moving towards 60-level, indicating that the market may retain the bullish trend.

Comparing with Bitcoin, the Litecoin price crosses above the moving averages in other to reach the resistance level of 3455 SAT. More so, this resistance level is expected to effectively exceed so that the market price may end up closing above it, there might not be any reason to expect the long-term bullish reversal.

LTCBTC – Daily Chart

On the other hand, if the price trades below the lower boundary of the channel, it could refresh lows under 3300 SAT and a possible bearish continuation may likely meet the major support at 3200 SAT before falling to 3100 SAT and below while the buyers may push the coin to the potential resistance at 3800 SAT and above. To support the bullish movement, the technical indicator RSI (14) is moving toward the north to give more bullish signals.

Litecoin Price Prediction: LTC/USD Rise Steadily, Price Spikes above $200 Resistance

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Litecoin Price Prediction: LTC/USD Bracing for Higher Level as Price Targets $220 Resistance

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LTC Price Prediction – March 20

LTC/USD manages to maintain its position, while the bulls maintain the desire to defend the support at $200.

LTC/USD Market

Key Levels:

Resistance levels: $230, $240, $250

Support levels: $175, $165, $155

LTCUSD – Daily Chart

After being locked within the 9-day and 21-day moving averages, LTC/USD is undergoing a much-needed break to the positive side. The coin is posting gains of over 2.3% in the last 24 hours, with the coin trading above the 21-day moving average and at a price of $204.56 at the time of writing.

Where is LTC Price Going Next?

LTC/USD resumes back in the middle of consolidation after a slight drop from near the $205 yesterday. The price is now roaming around the $204 level. Meanwhile, if the market continues the upward movement, the $220 resistance level is likely to surface in the next few positive moves. More so, LTC/USD pair might further look for higher price levels if the bulls continue to show commitment.

However, the market is currently displaying a sign of subduing volatility with choppy price action. Taking a look at the daily chart, we can see the trading volume is rising slowly. On the other hand, if LTC/USD pair decides to stay under the control of bears, the price may likely roll back to the previous supports at $175, $165, and $155. But as the RSI (14) indicator moves above 50-level, the next resistance levels could be located at $230, $240, and $250 respectively.

Against Bitcoin, LTC continues to experience some difficulties, as the coin recently exploded under the 9-day and 21-day moving averages, as it continues to fall towards the nearest support level of 3500 SAT. Meanwhile, the critical support level is located below the lower boundary of the channel at 3000 SAT and below.

LTCBTC – Daily Chart

However, any attempt by the bulls to re-power the market, the coin may likely cross the moving averages and may find the resistance level at 3800 SAT and above. Meanwhile, the price of Litecoin is currently changing hands to 3455 SAT and a spike in volatility could occur as the RSI (14) is seen moving around 40-level.

Litecoin Price Prediction: LTC/USD Bracing for Higher Level as Price Targets $220 Resistance

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